This paper presents the results of the research on the attitudes of managers, editors and journalist currently employed in the Serbian local media about the on-going process of priva- tization of the media owned by the state, cities and municipalities, as well as their views about the possible forms of ownership transformation and about the achievement of public interest through the project activities. The aim of the research was to establish how media professionals perceive and evaluate new legislation and what kind of future they forsee for the survival of the local media in which they work . According to many estimates, this process will be very painful for them since it co-occurs with the implementation of digitalization of electronic media, a process which - due to high taxes - threatens to extinguish local broadcasters. The research was conducted through semi-structured interviews during November and December 2014. They included 45 media profes- sionals (directors, editors and journalists) from 18 local media that. Research findings show a low level of awareness among media professionals about the necessity of withdrawal of the state from the ownership in local media, but also about importance of local media and their required social role in achieving the public interest within the local communities.